Anbang boosts Starwood bid
Chinese insurer Anbang has raised its offer to $14bn (£9.8bn) in the battle to win control of Starwood Hotels and Resorts Worldwide. The offer was made after Anbang raised its bid from $81 per share to $82.75. Marriott hotel group last week made a bid of $13.6bn, or $79.53 per share.
Pair fund Frankfurt scheme
Deutsche Pfandbriefbank and Deutsche Hypo have provided a €267m (£210m) finance facility for the development of Perella Weinberg’s Mariensel office complex in Frankfurt’s central business district. The loan will finance the construction of the 38-storey, 480,000 sq ft Marieninturm tower and the 10-storey, 126,000 sq ft Marienforum building.
CBRE buys out Altrium
CBRE has bought out its Norwegian affiliate Altrium. The companies have been affiliates since 2000 and have worked together on investment deals including the sale and leaseback of Statoil’s headquarters in Stavanger. The purchase of Altrium is due to complete by the end of April.
UBS expands mandates arm
UBS Asset Management has expanded its real estate separate mandate business to include institutional clients. The global customised mandates division will serve private wealth clients and institutional clients investing in direct global real estate. The new unit will be headed by Tilman Hickl, formerly UBS’s head of global real estate, EMEA outside Switzerland.
